JNK India surpasses anticipated premium to IPO price in debut trade
30/04/2024 07:47
** Shares of JNK India JNKI.NS up 63.6% at 679 rupees in
trading debut vs IPO price of 415 rupees
** Stock opened at 621 rupees and has stayed above IPO price
so far; currently valued at 37.77 bln rupees ($452.4 mln)
** "Listing significantly surpassed anticipated 30% premium
predicted by grey market," says Shivani Nyati, head of wealth at
Swastika Investmart
** JNKI makes heating equipment used in oil and gas
refineries, petrochemical and fertiliser industries
** IPO had fresh issue of shares worth 3 bln rupees, offer
for sale of shares worth 3.49 bln rupees from shareholders -
prospectus
** IPO oversubscribed 28.13x last week - exchange data
($1 = 83.4910 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))